With increasing complexity in the tax laws around the world, it has become essential for businesses as well as individuals to not only ensure that their tax policies and positions are in compliance with law, but also to make sure that they stand up to public scrutiny.
We, at AM SHAH, consider tax strategy as an integral part of the overall business strategy and focus on ensuring that the tax function supports the larger approach to business.
We offer a full suite of services to multinationals, domestic corporations and individuals in designing, implementing and defending their overall tax strategy.
There is an increased recognition around the world that tax administrations must have adequate information to help them effectively monitor compliance with the law, and to make informed choices about scrutiny and investigation of taxpayers. Compliance is no longer limited to an annual exercise aimed at filing of a tax return, but has evolved into a full-time function focused on helping the business effectively manage the growing need for providing information and documentation required under tax laws.
AM SHAH can help with all aspects of the compliance function, ranging from a full-outsourced model to reviewing/vetting of internal compliance functions.
We can help inter alia in:
Accounting plays a vital role in running a business because it helps you track income and expenditures, ensure statutory compliance, and provide investors, management, and government with quantitative financial information which can be used in making business decisions.
There are three key financial statements generated by your records.
It is critical you keep your financial records clean and up to date if you want to keep your business afloat. Here are just a few of the reasons why it is important for your business, big or small!
Your financial records reflect the results of operations as well as the financial position of your small business or corporation. In other words, they help you understand what’s going on with your business financially. Not only will clean and up to date records help you keep track of expenses, gross margin, and possible debt, but it will help you compare your current data with the previous accounting records and allocate your budget appropriately.
Laws and regulations vary from state to state, but proper accounting systems and processes will help you ensure statutory compliance when it comes to your business.
The accounting function will ensure that liabilities such as sales tax, VAT, income tax, and pension funds, to name a few, are appropriately addressed.
Budgeting and future projections can make or break a business, and your financial records will play a crucial role when it comes to it.
Business trends and projections are based on historical financial data to keep your operations profitable. This financial data is most appropriate when provided by well-structured accounting processes.
Company is a voluntary association of persons formed for the purpose of doing business having a distinct name and limited liability. It is a juristic person having a separate legal entity distinct from the members who constitute it, capable of rights and duties of its own and endowed with the potential of perpetual succession.